Kalpataru Power To Raise $125 Mn Through QIP
Kalpataru Power Transmission Ltd is raising upto $125 Mn through QIP to finance the future growth plans of the company. The company has not revealed its growth plans.
Kalpataru Power is engaged in design, testing, fabrication, erection and construction of transmission lines and substation structures on a turnkey basis across India and Overseas. It has two fabrication plants with an annual installed capacity of 108,000 Mn tons.
Recent Deals in Power Sector:Patel Engineering is also planning to dilute 40% in its power subsidiary - Patel Energy Resources Pvt Ltd.
Swan Energy acquired 49% in GSPC Pipavav Power Company Ltd for Rs 381 Cr in Jan’10.
Greenko Group is also looking to acquire Hemavathy Power Project Ltd for Rs 150 Cr.
Transaction Reference: MyIris
Kalpataru Power has recently secured two orders worth Rs 250+ crores from Algeria and Tamil Nadu Electricity Board. It has signed a contract with Sonelgaz, Algeria for construction of 220 KV transmission lines of 100 Kms and 60 kV lines of 120 Kms. The value of the project is about Rs 100 Cr and it is to be executed in 15 months.
It has also received orders worth Rs 154.25 Cr from Tamil Nadu Electricity Board and the project involves design, type testing of towers, supply, erection, stringing and testing.
According to the company’s website, Kalpataru has total outstanding orders worth Rs 55 Bn, executable over a period of 2-3 years, which is 2.92 times the sales in 2009.
It has completed over 8,000+ kms of turnkey projects in India for various clients including Power Grid Corporation of India and various State Electricity Boards (SEBs) of Gujarat, Karnataka, Maharashtra, Rajasthan, AP, Rajasthan, Orissa, Tamil Nadu and MP.
Kalpataru posted a PAT of Rs 44.07 Cr on revenues of Rs 719.23 Cr for the quarter ended Dec’31, 09. It has a debt of Rs 654 Cr for the last fiscal.
Power Sector In India
According to a report on IBEF(Here), the power requirement is expected to increase from 151,073 MW in July 2009 to 957,222 MW by 2012. A capacity addition of 100,000 MW units by 2012 is required to bridge the supply deficit and keep up with the increasing demand. The total investment required for capacity creation, along with necessary investments in transmission and distribution segments is estimated at $200 Bn.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 06/05/10 | Kalpataru Power - QIP | IPO / Offerings | 99.19 | |
| 31/08/06 | Kalpataru Power - India Advantage Fund | Private Equity | India Advantage Fund Series II | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 02/05/12 | Private Equity | Looking For | Husk Power Systems Private Limited | - | Announced |
| 28/03/12 | M&A | STEAG GmBH | Hinduja National Power Corp. Limited | - | Announced |
| 22/03/12 | M&A | Korea Electric PowerCorp | Pioneer Gas Power Limited | 98.37 | Announced |
| 24/02/12 | M&A | Tecpro Systems Limited | Eversun Energy Private Limited | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Kalpataru Power Transmission Limited | Mofatraj Munot & Family | 101, Part-III, G.I.D.C. Estate, Sector-28, Gandhinagar, Gandhinagar-382028 Gujarat |
KEC International Limited Jyoti Structures Limited |
www.kalpatarupower.com |
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